Pangaea Logistics Solutions (NASDAQ:PANL) Price Target Cut to $9.00 by Analysts at B. Riley

Key Points

• B. Riley has lowered the price target for Pangaea Logistics Solutions (NASDAQ:PANL) from $11.00 to $9.00, maintaining a "buy" rating, indicating an upside potential of 83.30% from the current price.
• Wall Street Zen has upgraded Pangaea Logistics from a "sell" rating to a "hold" rating, reflecting a more positive outlook following recent performance data.
• The company reported earnings per share of ($0.02) for the last quarter, exceeding analysts' expectations, and achieved revenue of $156.69 million, significantly higher than the predicted $129.24 million.

Pangaea Logistics Solutions (NASDAQ:PANL - Free Report) had its price objective reduced by B. Riley from $11.00 to $9.00 in a research report sent to investors on Monday,Benzinga reports. B. Riley currently has a buy rating on the shipping company's stock.

Separately, Wall Street Zen upgraded Pangaea Logistics Solutions from a "sell" rating to a "hold" rating in a research note on Friday, July 18th.

Pangaea Logistics Solutions Stock Up 2.0%

PANL stock traded up $0.10 during mid-day trading on Monday, reaching $5.13. The company had a trading volume of 221,053 shares, compared to its average volume of 216,351. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.46 and a quick ratio of 1.28. The stock has a 50 day simple moving average of $4.92 and a two-hundred day simple moving average of $4.80. The company has a market capitalization of $334.68 million, a price-to-earnings ratio of 23.32 and a beta of 0.77. Pangaea Logistics Solutions has a 52 week low of $3.93 and a 52 week high of $7.49.

Pangaea Logistics Solutions (NASDAQ:PANL - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The shipping company reported ($0.02) earnings per share for the quarter, beating analysts' consensus estimates of ($0.04) by $0.02. Pangaea Logistics Solutions had a return on equity of 3.38% and a net margin of 1.52%. The firm had revenue of $156.69 million during the quarter, compared to the consensus estimate of $129.24 million. As a group, equities analysts predict that Pangaea Logistics Solutions will post 0.43 earnings per share for the current fiscal year.

Pangaea Logistics Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Tuesday, September 2nd. Pangaea Logistics Solutions's dividend payout ratio (DPR) is presently 90.91%.

Institutional Trading of Pangaea Logistics Solutions

Several hedge funds have recently added to or reduced their stakes in PANL. JPMorgan Chase & Co. lifted its holdings in Pangaea Logistics Solutions by 21.4% during the 4th quarter. JPMorgan Chase & Co. now owns 155,115 shares of the shipping company's stock worth $831,000 after purchasing an additional 27,316 shares during the last quarter. Geode Capital Management LLC raised its holdings in Pangaea Logistics Solutions by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 851,931 shares of the shipping company's stock valued at $4,568,000 after acquiring an additional 14,104 shares in the last quarter. Wells Fargo & Company MN raised its holdings in Pangaea Logistics Solutions by 27.8% in the 4th quarter. Wells Fargo & Company MN now owns 18,396 shares of the shipping company's stock valued at $99,000 after acquiring an additional 4,007 shares in the last quarter. Barclays PLC raised its holdings in Pangaea Logistics Solutions by 23.6% in the 4th quarter. Barclays PLC now owns 57,959 shares of the shipping company's stock valued at $311,000 after acquiring an additional 11,060 shares in the last quarter. Finally, Mariner LLC acquired a new position in Pangaea Logistics Solutions in the 4th quarter valued at $134,000. 60.23% of the stock is owned by institutional investors and hedge funds.

Pangaea Logistics Solutions Company Profile

Pangaea Logistics Solutions, Ltd., together with its subsidiaries, provides seaborne dry bulk logistics and transportation services to industrial customers worldwide. It offers various dry bulk cargoes, such as grains, coal, iron ore, pig iron, hot briquetted iron, bauxite, alumina, cement clinker, dolomite, and limestone.